WILLEMSTAD – One of the cornerstone reforms aimed at improving financial transparency within the Curaçao government, the introduction of separate annual accounts for each ministry, has still not been realized. According to the Financial Management Report for the fourth quarter of 2025, the project has effectively been put on hold.
The separation of ministerial accounts was intended to strengthen accountability by providing clearer insight into spending, liabilities and financial risks per ministry. Instead of a single, aggregated government account, each ministry would be independently accountable for its financial management. This reform has been discussed for years and repeatedly identified as essential by oversight institutions.
The latest report confirms that the project has not progressed beyond the planning stage and that implementation has been suspended. As a result, the government continues to operate without a fully transparent financial structure at ministerial level, limiting the ability of the parliament and oversight bodies to assess performance and responsibility.
According to the report, the decision to pause the project is linked to capacity constraints and competing priorities within the reform agenda. However, no alternative timeline is provided, nor is it made clear when or if the project will be resumed.
The continued absence of separate annual accounts means that financial risks and inefficiencies can remain hidden within the broader government structure. This has direct implications for budget discipline, internal control and democratic oversight, particularly as ministries manage increasingly complex portfolios.
The delay reinforces earlier criticism from the College financieel toezicht and the Algemene Rekenkamer Curaçao, both of which have stressed that without clear, ministry-level accountability, structural improvement in public financial management will remain elusive.